Our Action Alerts PLUS holding United Rentals (URI) is finally turning a corner.
With a nice day Friday of higher highs, higher lows the chart of United Rentals is poised for more upside. Notice the trend change recently in the price action, the parabolic Stop and Reverse System in the top pane (dots) reflects that shift in price trend from bearish to bullish. The indicators below are all bullish, the Traders Dynamic at the bottom looks very compelling. This indicator shows how relative strength moves with Bollinger Bands. The Know Sure Thing indicator predicts price moves using a rate of change indicator.
When a crossover appears it reflects a change in the longer term trend. There was bullish crossover last month. Finally, the Moving Average Convergence Divergence (MACD) oscillator is on a solid buy signal now, with higher highs and higher lows. While there is plenty of resistance at the $370-$380 level, a strong move above there means higher prices for URI, a quick move back to resistance in the $400 level.